Questions About Credit Union Structure

Answers to Questions About Credit Union Structure

What are the fundamental goals of our Credit Union?

For the past thirty years, it has been the mission of Polish and Slavic Federal Credit Union to provide to its members the best quality products and services, that are carefully tailored to their needs, and be a source of financial support to our ethnic group in the United States.

Who founded our Credit Union?

Polish & Slavic Federal Credit Union was established in 1976 by the founders of the Polish & Slavic Center led by Rev. Longin Tolczyk. The founders wanted to help immigrants who, upon arrival in New York City, wanted to buy houses in Greenpoint but were turned down by banks. Banks were unwilling to extend credit for purchases or renovations of real estate properties to people who did not yet have established credit history. Especially, since these properties were located in an area that was run-down at the time.

What is our Credit Union’s history?

For the first two and a half years of its existence, our Credit Union operated under the name “Industrial and Commercial Federal Credit Union.” The first significant success of our Credit Union was marked by the purchase of a building on 140 Greenpoint Avenue in Brooklyn, which became its official headquarters.

Sponsor organizations are independent from PSFCU and have their own membership criteria. All of the organizations offer membership to persons who can document their polish or Slavic origin. Some organizations have additional requirements.